JK Tyre net profit surges in Q1FY24

Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for Q1 of FY2024.

Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “The financial year 2024 has started on a positive note, in terms of better profitability and we are witnessing buoyancy in demand in the replacement and OEM segments across product categories, driven by healthy macro-economic environment as export demand are also expected to revive in the coming months. He further added “We are confident that India’s growth story will provide us tremendous opportunities to pave the way for an accelerated growth in years ahead.”

JK Tyre’s subsidiaries Cavendish Industries Ltd. and JK Tornel, Mexico continued to perform well, with healthy contribution to Company’s overall revenues and profitability.